United Bankshares, Inc. $UBSI Stock Position Lowered by Wesbanco Bank Inc.

Wesbanco Bank Inc. decreased its position in United Bankshares, Inc. (NASDAQ:UBSI) by 11.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 101,359 shares of the financial services provider’s stock after selling 13,360 shares during the period. Wesbanco Bank Inc.’s holdings in United Bankshares were worth $4,198,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of UBSI. Brighton Jones LLC grew its holdings in United Bankshares by 4.6% during the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 748 shares during the period. Royal Bank of Canada lifted its holdings in United Bankshares by 2.0% in the 1st quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock valued at $2,310,000 after acquiring an additional 1,298 shares during the last quarter. Millennium Management LLC boosted its position in shares of United Bankshares by 464.1% during the 1st quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock valued at $4,761,000 after purchasing an additional 112,988 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of United Bankshares by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock valued at $14,195,000 after purchasing an additional 28,366 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of United Bankshares by 564.0% in the 1st quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock worth $6,329,000 after purchasing an additional 155,051 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on UBSI shares. Raymond James Financial reiterated an “outperform” rating and issued a $49.00 target price on shares of United Bankshares in a report on Monday, April 27th. Wall Street Zen cut United Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Hovde Group began coverage on United Bankshares in a research note on Wednesday. They set a “market perform” rating and a $49.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.40.

United Bankshares Stock Performance

Shares of UBSI opened at $46.21 on Friday. The company has a 50-day moving average of $43.79 and a two-hundred day moving average of $42.17. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 12.94 and a beta of 0.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares, Inc. has a one year low of $34.10 and a one year high of $46.50.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The business had revenue of $316.58 million during the quarter, compared to the consensus estimate of $315.15 million. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, equities research analysts expect that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. United Bankshares’s payout ratio is currently 42.58%.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.